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We essentially get news everyday. The mine is producing without interruptions(except for occasional heavier rain days)and doing what young mines do -which is grow once they have investors and or internally generated revenue to invest in more and better equipment and thus increase efficiency and production.
E.g they have enough 1-3mm to ship now but are getting a new screen that can process the 1-3mm in a much more efficient manner-in 1 pass-so they are holding a lot of the 0-3mm for processing by that improved equipment.
The new mine is much closer to present operations,which can always be helpful logistically,than a mine in the South central portion of the entire Baja peninsula would be-since the entire peninsula is divided into 2 states-the N part-Norte and the S part-Sur.
The mine is actually in the central part of the N 1/2 of Baja.
The other thing he's reminding us of is the short distance to the shipping point-either 68km by road or air. For they've said they will ship from the Gulf of California(the Sea of Cortez to many locals).
In a different market where there is a much larger investment pool moved by fundamentals and not the perverse games of pinkie land,the present comparatively greatly undervalued(because of those perverse non-market force manipulations)can take over,just as we temporarily saw in early Jan.
So no matter what happens you avoid the effects of a R/S-even if you were to get fewer shares of a higher priced stock. Its the effects of a R/S IN THIS MARKET that people are scared of.
But if we were on a different exchange it would be a different market-where market forces can regain control,and since the pps is greatly undervalued due to penny land manipulation,the stock will be free to rise to its true market level.
You can't compare apples and oranges.So people who are thinking in terms of a R/S are not comprehending the fundamental positive changes that are most likely to result from a different market that does not suppress the pps artificially as we have seen practically on an unprecedented scale in this present pinkie situation.
From the Nov 22 PR:
"In the event that the Company does move to another index, current shareholders shall be issued the new listing common shares in proportion to their holdings."
Read my recent posts which amplify. Receive equal value,but value should then rise for various reasons as I noted.
I don't think shareholders would have to do anything.
Somebody can explain how a cusip change works and whether this might be done in connection w a cusip change.
Haven't seen any post re a Southern exchange,other than JohnCM'S question re the Brazilian.
If the mining company is producing,the Toronto(TSX)exchange(the largest in Canada) which is used by a lot of mining companies requires a certified geologist report-43-101. Otherwise,they do not.
I'm not familiar with the Brazilian.
TSX –Mining Companies Listing Requirements-In Production Mining Companies
3 years proven and probable reserves as estimated by an independent qualified person.
Commercial level mining operations.
Net Tangible Assets
$7,500,000
Pre-Tax Cash Flow
Last Year
$700,000 in last fiscal year and average of $500,000 for past two fiscal years.
Profitability
Pre-tax profitability from ongoing operations in last fiscal year.
Value of Free Trading Public Float
C$4,000,000
Form 43-101 Technical Report
The big pile is the 3-18mm-they also have other 3-18 in various stages of processing. The piles on the right are 1-3mm-they have a lot more 1-3mm elsewhere.
The big pile is 3-18 mm-plus there is more 3-18 in various stages of production. The piles to the right are 1-3mm. They also have a lot of 1-3mm elsewhere awaiting more efficient processing with a more advanced screen than the one they already have-which they expect very soon.
I think Bobs strategy is to escape the perverse games of penny land and pinksheets. When he forecast audited financials last fall in the PR,that indicated a good likelihood to uplist to OTCBB-specifically otcqb,which at least escapes the pinks-but need audited and to become SEC reporting.
At each step of the 7 step combined pink/OTCBB ladder,investor confidence/pool and financial statement transparency increases.
Because of the improperly applied ce resulting from special interest groups shouting "promotion" when market forces finally prevailed in Jan(see my Jan 13-14 posts),CWRN has been in the lowest category.
Because of otcmarkets policy to pressure companies to increase their level of financial transparency,CWRN would have to jump all the way to level 5-current info status-instead of the grey market or no info or limited info status-its like giving birth-especially when you add the lengthy lawyer vetting process-ask other companies going thru the same process.
Its a headache and takes a long time to supply the missing financials and audit them since the last reported period of 9-30-09.
The financials will have to be supplied no matter what. But pinks and their rapidly changing policy makes it onerous to make the transition so one could think, "I was planning this other thing eventually anyway and have already been approached in the past, so why not look into it further." I'm not quoting-just presenting a potential thinking process.
Imo,I would still pursue OTCBB/otcqb-they are consulting on that- and go ahead and file the financials/vetting for such while working on something bigger- unless they could jump to another exchange in a very short time.
Discounting dilution(CWRN is not going to dilute and has no need to now that they have revenue and instead will buyback/retire shares),there are 2 ways for a company to grow-thru internally generated revenues-usually the slower process-though the high iron industry profit margins speed up the process.
Or thru infusions of capital-which CWRN has had recently due to investor confidence in their dd re CWRN's reserves/potential.
The fastest way to grow is thru the direct capital infusion of an IPO.
Absent something unusual(which last Nov's PR forecast)it would take another couple years to go Nasdaq. Amex and some other listings would be much easier but they haven't mentioned them. Some low priced penny companies increase visibility/investment by joining an exchange like Frankfurt(where 40% of the companies are based in North America).
Absent something unusual CWRN-still a very young as far as production company goes-continues increasing production/efficiency/revenue and using the revenue to keep adding equipment to increase production further and thus market cap/revenues for eventual Nasdaq listing-possibly a 2 year process.
There are other big or at least bigger exchanges than pinks for which CWRN has or could fairly easily meet market cap requirements and proceed to much faster,especially if they upgrade the Cemex drilling/mapping and other geology work to an official certified geologist report.
I'll let somebody else answer the hard certs question.
Wyoman Member Level
Monday, May 09, 2011 5:26:52 PM
I emailed Bob kinda calling him out on a few things..here is the response I got...make sure you read the PS part closely
"Thanks for your letter , I could answer all of your questions: However, if I did, I would have to put out a news release as soon as I sent it to you.. There are a lot of reasons why we have not removed the CE, and I will tell you now that it is protecting penny investors because hard certs cannot be cleared with CE up.. Now then, if I cleared it up tomorrow, I might get greedy and dump a couple billion shares and reverse the stock, but that’s not going to happen. There will be a news release soon that will show the bigger picture for the company… (As for the 32m projection, that was based on pre-sale contracts).. The project is fine, the company is fine and don’t forget we are very early into the project and our second shipment will be going out soon… Good luck on your investment and thanks for being a shareholder in the early stages of the programs.. Bob
PS: This company will not be in Pinksheets much longer, which was addressed in earlier new releases, so there is not a need to jump through hoops for OTC…."[END of Bobs email to Wyoman].
"then in the news release it talks about merchant bankers..."[end of the material I'm reporting from Wyoman's message].
I'm digesting and researching as usual and being careful and I don't betray confidences.
The consulting with SEC advisers re uplisting I have talked about in posts was I thought for the OTCBB-initially as otcqb-and there has been some mention of otcqb also-so???.
Which(otcqb) is what I guessed when they forecast audited financials-which take forever to do when you have a backlog of quarterlies-for audited financials and SEC reporting are applicable to OTC-not "current info" status.
The ce issue in Wyoman's email has in recent days been reported to Bboy in conversation w Bob and by Bullit also.
Balahi and others who have communicated w the company have also posted in past weeks etc about uplisting.
The past PR Wyoman is referring to is the Nov 22,2010 PR
"The Company has recently been contacted by Merchant Bankers to sponsor an Initial Public Offering (IPO) on another index. The Company has looked at both the NASDAQ and German DAX, no discussion has yet been determined as to where the Company may land in the future, but it is doubtful that the Company can remain on the Pinksheets past 2011. In the event that the Company does move to another index, current shareholders shall be issued the new listing common shares in proportion to their holdings."
That is not a R/S and does not have the same effect of a R/S because Nasdaq brings much greater exposure/pool of investors/PE etc than we presently have,where the company can be recognized on undervalued fundamentals rather than the perverse see saw manipulation of penny land.
At that time-Nov 2010-there was much discussion on this-not unusual -and I posted the various methods by which one can uplist to Nasdaq. Basically you have to meet income criteria for 2 or 3 years running or the quick way- average 850 million market cap for one year.
Since I figured it would take a year to reach a market cap of 850 million-even with the projected production-I dismissed this as something that was in the more or less distant future -and it could be-who knows at this point.
Anybody who suggested years ago that GM would have an ipo-and a wildly successful one at that-would have been thought crazy-but it happened and at a much higher price than initially expected.
But further mention continues to be made of this in emails to people-including Wyoman-as something not in the distant future. And since Bob has some very knowledgeable people on his advisory council-something people have also forgotten-of course Sharon is reportedly sharp also-that lends credibility to a midterm timing option.
The part I didn't understand was the IPO-and so I dismissed it -for why would a merchant banker(an investment banker)be willing to underwrite without an official NR-3101 geologist report..
(and I am not an investment banker or financial adviser-every time I followed a nationally recognized/well respected financial advisers advice I lost 50%)
However,reliable sources indicate,that based on investor knowledge,there is 7 billion of ore.
The Cemex drilling-for which Rocket is owed 1000 on a bet-was far more extensive than Bob would have done-according to reports and thus may be more extensive/revealing than generally thought-I don't know-I haven't seen the Cemex drilling results and maps etc which Bob purchased,as he reported before-except for common info reported on the website Baja 14 Geo summary.
Wyoman wanted me to post the email he got from Bob,which I will do next,as I guess he figured I could explain this better.
etmm wasn't able to bring this down this pm so u got a call?
read the blog-4.3 B O/S; 2.1 B float
You buy a company because of the successful operational status and the mining reserves.
The bboy conversation with Bob presents possibilities other than a buyout-good possibilities.
And that is more likely if they still have the contract for the 3-18mm fines-a contract that could possibly cover multiple ships.
It seems unlikely that the contract-especially as lengthy as the negotiations were,only covered one ship. The contract was even delayed over price of fuel due to the Libya unrest-as noted by the PR.
So contract may have had provisions for partial prepayment for a second ship after the buyer received the 1st shipment in China and was satisfied with the operation.
The recent PR does talk about 2 contracts-1 for the 3-18 mm-which in this scenario is presumably the multi-ship contract-and 1 for the 1-3mm superfines.
I think this microwave generation expects 3 and if theres only 2 ships today they are disappointed. Rewards come to those who are patient. Good catalysts are coming. Try to find a producing miner producing what CWRN is producing anywhere near this pps- it's impossible.
He knows very well there is no suspension or revocation for a non reporting companies delays in putting financials out.
That those things don't even apply to a non SEC reporting company. If there were the # of penny companies would be significantly reduced.
Even when companies don't have a backlog of financials to execute,companies are taking 45-60 days or more to do 1st qtr's-often most difficult to get out in timely fashion,partly due to tax season-as several companies have noted as reason for delay.
Add to that the extra time it takes for audited financials. And it hasn't even been 45 days since end of qtr.
Other companies in CWRN's exact ce position and 1 yr backlog-who promised financials April 1(not Apr 15 like CWRN)still don't have their financials out yet either. And they are rising in anticipation of financials because don't presently have significant mm manipulation.
Remember mm's don't usually attack a stock unless they believe it will rise(back and forth) and they can play it every which way but loose.
So a lot of this perennial talk about delays in general and in particular re financials shows an incredible ignorance of how pinks and even OTCBB operate.
Special interest groups are acting as if SOP is something extremely unusual because it serves their bottom line.
All reports are no buyback yet-at least none recently. If there were this would be higher. If they just got paid the buyback would've necessarily been delayed also-explaining why there had not been any when they said buyback would be on ship by ship basis.
Read the posts for last months all way back to October. Many were mentioning the unprecedented in their experience by etmm over several months.
All you have to do is follow level 2 and you can see etmm manipulating this every day. There have been scores of posts on etmm's games. They even run it up to a RSI of 100 sometimes to get people to set stop losses high only to purposefully crash it and trigger those stop losses.
The whole ce was and continues to be unbelievable manipulation-see my Jan 13-14 posts. Games of this level only occur when a company has great potential.
The company isn't manipulating this-that would be dangerous for them on many levels.
Blaming the company for manipulation by others is pure craft.
In April the company had 3 or 4 blogs, a PR,4-08 sticky email, 50 pic tour Apr 12 and more pics Apr 26-thats not "not releasing any info" and that doesn't include emails etc to individuals,and tours for those who visit the mine.
Thats a lot more info than you get from most junior miners.
CWRN released share count and if you do your dd you will see from past posts that numbers have been vetted in many ways.
Dishonest as usual-I didnt dd that-it came from many others and simple definitions u could look up for yourself. Now that sunnybank and pesquero both have heard CWRN got paid what is the problem.
Sunnybank says CWRN has been paid.
Depends on the barometer you use. Most pennies at this price range have no income yet and are trading on pure speculation of future income-20 to over 100 times book value/share(the equivalent of a PE of 20 to over 100) and often negative book. Sometimes 1000's over book value. How much is a dollar stock over book when book is negative 15 dollars/share?
CWRN is under the radar -an actual producing company w actual repeatable revenue and high profit margin.
If 5 million profit on 1st ship w 4.3 B O/S is .01744/share at PE of 15,(thats 1 and 3/4 cents/share-but that doesn't factor over another shipload(combo of 2 sizes ore)is ready to truck,and that CWRN is debt free w first ship,and very high profit margin industry,and new much larger concession possibilities/possible major investment as noted by PR's last fall as well as major investment noted in 2-28 PR.
With a second 3-18mm Kriton size shipload,pps at PE of 15 is .0348-not counting the effect of buybacks.
10 Kritons this year at 4.5 mill profit/ship and PE of 15 would be 15.7 cents/share -not counting buyback/retirement of insider shares. A 50% reduction of O/S via buyback/retirement would double these figures-to 31.4 cents by year end w these assumptions.
Stock has been severely suppressed by manipulation by etmm and special interest groups,including many special games like ce to stop market forces which had finally broken through in early Jan.
Market forces could again prevail when any one of a number of events detailed many times-like financials -occur-that could result in rapid pps increase from the current artificially depressed by etmm etc pps.
And CWRN has intimated in past PR's that they have bigger plans which will take them out of the pinksheets and its games altogether.
Read my posts of Jan 13-14.
It was a tactic of special interest groups to stop market forces which had broken thru the manipulation by etmm and special interest groups. Just as recent pps drop is a result of such manipulation. Blaming the company for manipulation by special interest groups whose goal is to destroy every company is pure craft manipulation itself.
Good. There's no real good reason for delay of payment of the documentary letter of credit(DLC) if ore met specs-as Bullit said it did a few days ago.
Good summary-big things are ahead.
When financials come out market forces could prevail also,as they finally did in early Jan before the "shout fire promotion" to improperly get ce which has been used by special interest groups to cut off market forces ever since.
So logically when financials come out this undervalued long retracement will reverse-and could be a rapid pps jump,as with the 85%/day jump in early Jan.
The grass is always greener on the other side of the hill in the imagination of get rich quick traders but I'd rather choose unrecognized undervalued fundamentals(resulting from mm and special interest manipulation),especially when there are several events that could result in rapid pps increase.
Already detailed that many times. In short, current financials will give current info status.
Audited financials are a strong indication they intend to uplist to the OTCBB-initially as otcqb and later as OTCQX.
Each step increases the pool of investors and just as importantly investors who focus on and recognize the growing fundamentals and are not moved by special interest games-and even more important can result in market forces prevailing again as income and PE is increasingly realized.
Uplisting to the big boards is imo premature to talk about absent unusual circumstances.
As the Apr 5 PR and subsequent blogs noted,after the Kriton left they wanted to catch up on the consolidation and processing of the 1-3mm ore while they simultaneously excavate,crush and process more 3-18 mm.
So they are building and processing 2 separate products for 2 contracts.
The estimated production of ca 30k tons/month 3-18 mm ore could fill a Kriton in 40 days. Which will be rising as they add additional equipment.
Don't know how much 1-3mm ore is available but the decision to consolidate and process it could mean they are approaching shipsize for it also.
The point is they simultaneously have 2 products growing in size in prep for shipping,not counting the waist green product and the mostly human interest copper.
So these products could possibly be ready to ship within a short time of each other.
And my figures don't even include the 60% buyback and similar expected retirement of insider shares(see my 12-17 post in MaxShockers compilation)-which will reduce O/S by 60 % and logically more than double pps all by itself.
Dishonest. 12-18 was a projection for when they ramped up to 100k tons/month,based on PR projections. With new excavation equipment they plan on reaching 70k tons/month.
CWRN's production is a 1000 times larger than the only other junior miner I've seen go into production since I've been in pennies.
And nobody I know presumed only 2B and 300 mill. For months the figure of people in the know was the actual reported and special interest groups kept shouting 6 billion.
At a PE of 15,if they only had 7 million income/year, pps would be .0244.
At a current estimated production of ca 30 k tons/month,they could do a Kriton every 40 days. And production will continue to increase as they add equipment and work out the usual start up bugs.
Most pennies trade on a purely speculation basis w 20 to over 100 times speculative income. I've seen pennies trading at a dollar when they had a negative book value of fifteen dollars pps!
CWRN has positive book value.
CWRN has actual income and is debt free w just the 1st shipment in this very high profit industry!!!!!!!
In the last couple days of trading I noticed these large high bids and low asks in the millions of shares on level 2 of various stocks.
I don't know the best way to load the super sized bags they use for the 1-3mm ore but the piling of such on a hillside below one of the upper roads not only makes it easier to pile the ore but possibly for loading the bags. If they can be positioned in such a way to scoop ore into them gravity assists the loading-both the moving of the ore to the rear of the bag and the flow of ore into the large bags.
I've posted the long process of vetting required by the lawyer in consultation w accounting and the board,but there is also quite a back and forth to get audited financials and 10q.
10q's and 10k's involve a lot more than just bare financials. There was a good post on another board about the complicated process among several parties to arrive at audited financials. If I come across it again I may post it.
Another junior miner w same missing since 9-30 financials is taking several months to go thru the same process-having just posted 10k for 2009- and the other companies I'm following in the same situation-and all these companies forecasted April 1 for their filings-still haven't produced any of the missing filings. This is pretty common in pinkie land.
Many pinks,without missing quarters to make up,are taking over 60 days for just quarterlies and 90 for annuals. Since CWRN began working on this process in Jan or Feb I would expect financials to start coming out before long.
When those or other catalysts happen,market forces could again prevail and shoot the pps up 85%/day,as occurred after the 12-30 PR.
It does look like 3-18 mm ore-I asked Rocket earlier-these piles on the main bench. And that would make sense as the main pile of 1-3mm is being piled on the side of a hill below one of the higher roads apparently for easier gravity assisted bagging/loading.
Good under the radar information.
Sounds like a good game plan. Fortunately their game plan does not depend on the negative armchair quarterbacking of special interests.
They are in fact a producing junior miner in a very high margin(profitable)industry.
Btw they will be the operational company for the larger proposed mine,as noted by the 2-28 PR,not just a 33% owner.
They aren't endlessly reprocessing. They are continuously processing 3-18 mm and the 1-3mm is a byproduct. They concentrated on the 3-18 mm while the byproduct,which they have been consolidating and processing since the Kriton left,kept growing. So now they are processing both sizes for shipment.
They apparently have 3/4 of a shipload ,as reported,presumably of 3-18 mm,plus many 1000's of tons of 1-3 mm product-perhaps a good portion of a shipload of 1-3 mm also.
The question is the method of shipment for the 1-3mm and which is shipped first,unless both go to the same buyer and are shipped together.
We don't know how much processed ore is at mine,but we hear there is 3/4 shipload of presumably 3-18 mm ore-which is what they are producing ,plus processing of the 1-3mm byproduct(which itself must be 10s of 1000's of tons),sounds like trucking could start before long. And if they use the logistics pesquero previously provided they could truck a shipload in a couple weeks. Why does one who is honest have to make threats? A lot of negative speculation by people w agendas.
I was afraid certain people would think or claim that was the extent of CWRN's produced ore.